A charge entry refers to the process of verifying the medical codes used in the charge slips during the medical billing process. This is also when a monetary value is assigned to the patients following their medical records and history and their fee schedule. Then, the healthcare practice or provider will use these charges to submit a claim for reimbursement according to the medical procedures performed.
At this stage, patient details (demographics), medical/case history, health insurance policy details, healthcare service, and practitioners’ credentials are provided to the client. Read on to find out what are the different components of a successful medical billing charge entry and why they are important.
The details of the patients’ demographics, such as their name, date of birth, occupation, insurance policy information, and eligibility, should be verified and checked regularly to ensure that all the information recorded is accurate. This would go a long way in preventing claims from being rejected or denied due to a charge entry error, which could have financial and accounting replications for the third-party payer and the provider. More importantly, a successful medical billing charge entry is key to allowing your patients to receive the timely healthcare service they deserve and avoid unexpected bills.
When you receive a claim denial, it is critical that you resolve the issue as soon as possible to reduce any further delay. You should investigate the reasons for the rejection and take steps to rectify the problem by launching an appeal or resubmitting the claims. While healthcare providers should aim to reduce claim denials, there isn’t a failsafe way to completely avoid them. Staff should take this as a learning opportunity to enhance their understanding of their roles and responsibilities.
While exercising quality control is critical at every step of the medical billing process, being particularly meticulous at this stage is the key to the success of your claim submission. Therefore, all healthcare providers should have an internal, multi-level system of checks and balances to verify the quality of the charge entry. In addition, before the claim is submitted to the insurance provider, the costs should be accurately and properly entered into the medical bill system to prevent any delays and reduce the chances of denials.
The billing information of the patient is vital to the bottom line of any healthcare practice, and it is the core component of a charge entry. To reduce the likelihood of a billing error, you can invest in a medical billing program or a third-party revenue cycle management company like KR Billing Solutions to meticulously input and manage your patients’ records. In addition, all the information entered in the bill should be double-checked and verified multiple times to reduce any error.
Our founder Kayla Ruiz has almost two decades of experience in the medical billing industry. Under her direction, we have become one of the top leading revenue cycle management companies. Additionally, we specialize in various medical fields, including Gastroenterology, Ophthalmology, Optometry, Physical & Occupation Therapy, and more. So, if you struggle with managing your patients’ medical bills, you have come to the right place at KR Billing Solutions. Whether you require our claim scrubbing, AR follow-up, and payment posting services, we are here to lend you our support every step of the way.